Some contractors are using the systems to keep track of their fleet vehicles and employees during the work day. Employers use the technology to improve efficiency, save money and even catch employee negligence.
Employees of firms that operated large expensive machinery seemed to consider the smaller tools, like reciprocating saws and battery-powered drills, as door prizes for showing up to work -- one firm lost $2 million in tools in just one year. However, new bar-code systems and software are evolving, and one asset-management supplier says his system will save a firm 40 cents per employee-hour.
One study shows the labor market is not out of the woods yet despite a decline in corporate layoffs. Last month, businesses planned to cut 64,000 jobs, which is a 41% dip from the 157,000 job cuts in November.